Prudent Risk Management Is The Only True Edge In TRADING

Is Prudent Risk Management the only true edge in trading?

  • Yes

    Votes: 53 29.9%

  • No

    Votes: 124 70.1%
  • Total voters
    177
Buy1Sell2 said:
Blackjack has no correlation to trading.
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I will prove the opposite: Just like in trading, in black jack (or poker) one has to wait for a preferred set up that is advantageous for the player with a higher than average probability and play/trade at that point. That requires patience, discipline and experience.

What did I win?
 
BONECRUSHER said:
PROVE IT.
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That's easy. In Blackjack you have no way to let a winner run for extended trend gains. You either get 1 to 1 or 3 to 2 payoff. You never have an opportunity for a lopsided 20 to 1 like you do in trading.----Mic Drop---
 
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Buy1Sell2 said:
That's easy. In Blackjack you have no way to let a winner run for extended trend gains. You either get 1 to 1 or 3 to 2 payoff. You never have an opportunity for a lopsided 20 to 1 like you do in trading.----Mic Drop---
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I think the mic dropped on your toe. You've only proved ONE way they don't correlate. Remember...there are traders that don't need extended trend gains to win at this game. I don't think I've ever had a 20 to 1 gain.
 
Buy1Sell2 said:
That's easy. In Blackjack you have no way to let a winner run for extended trend gains. You either get 1 to 1 or 3 to 2 payoff. You never have an opportunity for a lopsided 20 to 1 like you do in trading.----Mic Drop---
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Not true. If you win a 1 million dollar prized championship, your ROI is easily 20-50 to 1 (or whatever the buy in is):

https://en.wikipedia.org/wiki/World_Series_of_Blackjack

Playing in a tournament is the equivalent of letting a winner run. So again, what did I win?

Furthermore:

http://www.bjtournaments.com
 
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Pekelo said:
As usual with you, not an argument. :)
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There is no argument to be engaged. I have already shown why BlackJack and trading are not correlated. You were trying to interject an absurd notion concerning jackpots.
 
Never played blackjack but I thought nickynoes was correct. And this was already making me think of the similarity with pyramiding a winning trade. Which is something I do.
 
Buy1Sell2 said:
There is no argument to be engaged. I have already shown why BlackJack and trading are not correlated. You were trying to interject an absurd notion concerning jackpots.
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You must know of Ed Thorp and have read his interview in the Market Wizards series. Do you really want to argue that there is no correlation at all? I think everyone knows it is not the same thing as trading, as there are completely different rules. But saying there is no correlation between professional blackjack playing and professional trading is a bit absurd.
 
nickynoes said:
You must know of Ed Thorp and have read his interview in the Market Wizards series. Do you really want to argue that there is no correlation at all? I think everyone knows it is not the same thing as trading, as there are completely different rules. But saying there is no correlation between professional blackjack playing and professional trading is a bit absurd.
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Blackjack and trading are not correlated.
 
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